Not long ago my wife and I closed down a bank account we had not used in many years. I had tried to persuade my wife for many years that we needed to close the account because we just weren't using it, and I didn't want to keep paying fees. But she insisted that we keep it open because she was a “charter member” of the bank and didn't want to lose her privileges.
My wife is very frugal, yet she was willing to continue to pay for membership in something that she received no services or benefits from. It was then that I realized just how powerful it is to “belong” to something. It satisfies our deepest needs as human beings to be wanted, loved, and appreciated.
Does Your Company Need to Establish a Membership Program?
I am often asked by businesses if a membership program would be “right” for their company. In response, I offer the following “yes” or “no” membership qualification test. Take the test and see if your company needs a membership program.
Does your company…
- have to conserve its limited resources when providing service to its customers?
- want to decrease customer turnover and dramatically improve customer loyalty?
- need a constant, predictable stream of revenue?
- desire to sell its full suite of services with less effort?
- wish to get more revenue out of its existing customers?
- aspire to significantly improve its referral business?
If you answered yes to one or more of the above questions, your company could benefit from establishing a membership program. Okay, you're probably saying, “There isn't a company in existence that wouldn't say yes to one of the above questions.” And that is exactly my point. Every business can benefit from a membership program and should establish some form of membership marketing.
Take a Closer Look at the Benefits
Membership programs provide powerful benefits that will improve your company's performance. Let's take a closer look at the benefits that were just mentioned.